Daily News for Commercial Real Estate & Business – December 7, 2009

NEW SOLAR ENERGY PROJECTS TARGETED FOR 316 ACRES ON WEST SIDE
Goodyear/Maricopa County - Southwest Solar Technologies Inc. in Phoenix (Herb Hayden, pres.) plans to develop solar energy projects in Goodyear and Maricopa County that will incorporate compressed air energy storage. The company paid $9 million to buy 316 acres in two separate parcels.

An investment group led by Wasatch Property Management has purchased the Painted Trails Apartments in Gilbert, AZ for $15.68 million, or $80,000 per unit. Located at 4255 E. Pecos Road, the 10-building complex consists of 72 one-bedroom/one-bath units...

Western Maricopa Education Center (West-MEC) purchased two office buildings in the Glendale Corporate Center for $5.1 million, or about $120 per square foot. The property was in shell condition at the time of sale and the buyer is taking occupancy in...

Presson Corp., a Phoenix-based investment firm, purchased the West Thomas Business Center in Phoenix for $8.1 million, or about $30 per square foot. The 259,089-square-foot, 12-building industrial complex at 3102-3132 W. Thomas Road was built in 1978...

While the federal government's relatively upbeat employment report for November is fueling optimism among restaurateurs and other businesses that the economy might be turning the corner, another study states that job loss continues to be a problem for small business owners.

REGISTER ASAP! THERE IS A LIMITED NUMBER OF TICKETS AVAIALBLE FOR THIS EVENT! Just a reminder: I am a panelist for the CCIM/IREM Economic Forecast on January 12, 2010. It is at the Phoenix Country Club and starts at 8AM. I will be on the Retail Panel with Daniel Pollack and Kevin Schuck. Our moderator is David Malin from Vestar. If you are in town, please come support me at the event. The website to register is www.iremccimforecast.com.

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.

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I'm Nick Miner. I have been working in Commercial Real Estate since 1998 and have completed over $225 million dollars of sales and leasing activity in my career. In September 2012, I made the move to ORION Investment Real Estate and am currently a Senior Vice President - Investments. How can I help you?